Harvard's Kenneth Rogoff on China

Harvard University economics professor Kenneth Rogoff on China, according to a Bloomberg News report:

People say China "won't have a financial crisis because there's central planning, because there's a high savings rate, because there's a large pool of labor, blah blah," he added. "I say of course China will have a financial crisis one day."

When that crisis comes, it'll be interesting to see what the effects are on China's political stability and its system of Communist Party rule. Professor Rogoff doesn't get into the question, at least to judge by the Bloomberg report.